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Double decline rate = 100/4*2 = 50%
Depreciation for 2021 = 9120*50%*6/12+9120*50%*50%*6/12 = 3420
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Question 15 Pearl Kremer purchased a computer for 59,120 on July 1, 2020....
Question 14 Swifty Corporation purchased a machine for $66400 on July 1, 2020. The company intends...
Question 14 Swifty Corporation purchased a machine for $66400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-dedining balance method. Salvage value is $5000. Depreciation for 2021 to the closest dollar is $8300 $33200 O $14525 O $13200. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER ch O 130 PM RI ED e
slotkin products purchased a machine for $65,000 on 1 July 2020. The company intends to depreciate...
slotkin products purchased a machine for $65,000 on 1 July 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5,000. 1. Calculate depreciation expense for 2020. 2. Prepare journal entry to record the sale of the machine 31 December 2021 for $50,000.
Need help with this question Bonita Company purchased Machine #201 on May 1, 2020. The following...
Need help with this question
Bonita Company purchased Machine #201 on May 1, 2020. The following information relating to Machine #201 was gathered at the end of May. Price $100,300 Credit terms 2/10, n/30 Freight-in 944 $ 4,484 Preparation and installation costs Labor costs during regular production operations $12,390 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Bonita intends to use the machine for only 8 years, however,...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated...
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expenses LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expenses Click if you would like to Show Work for this...
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life...
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $255,000. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $6,120,000 $6,120,000 Year-End Book Value $6,120,000 $6,120,000...
On July 1, 2020, Blue Spruce Company purchased for $3,060,000 snow-making equipment having an estimated useful...
On July 1, 2020, Blue Spruce Company purchased for $3,060,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $127,500. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $3,060,000 $3,060,000 Year-End Book Value Depreciation...
On July 1, 2020, Martinez Company purchased for $4,680,000 snow-making equipment having an estimated useful life...
On July 1, 2020, Martinez Company purchased for $4,680,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $195,000. Depreciation is taken for the portion of the year the asset is used Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method 2. double-declining balance method 2020 2021 Sum-of-the-Years'-Digits Method Equipment $4,680,000 $4,680,000 Less: Accumulated Depreciation Year-End Book Value Depreciation Expense...
Testbank Problem 134 On July 1, 2020, Novak Company purchased for $5,040,000 snow-making equipment having an...
Testbank Problem 134
On July 1, 2020, Novak Company purchased for $5,040,000
snow-making equipment having an estimated useful life of 5 years
with an estimated salvage value of $210,000. Depreciation is taken
for the portion of the year the asset is used.
Complete the form below by determining the depreciation expense
and year-end book values for 2020 and 2021 using the
1.
sum-of-the-years'-digits method.
2.
double-declining balance method.
2020
2021
Sum-of-the-Years'-Digits Method
Equipment
$5,040,000
$5,040,000
Less: Accumulated Depreciation
$
$...
Question 14 Swifty Corporation purchased a machine for $66400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-dedining balance method. Salvage value is $5000. Depreciation for 2021 to the closest dollar is $8300 $33200 O $14525 O $13200. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER ch O 130 PM RI ED e
Need help with this question
Bonita Company purchased Machine #201 on May 1, 2020. The following information relating to Machine #201 was gathered at the end of May. Price $100,300 Credit terms 2/10, n/30 Freight-in 944 $ 4,484 Preparation and installation costs Labor costs during regular production operations $12,390 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Bonita intends to use the machine for only 8 years, however,...
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 4 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $5200. Depreciation for 2020 to the closest dollar is $8175 0 $32700 O $14306 O $16350
Question 1 Kingbird Company purchased machinery on January 1, 2020, for $96,800. The machinery is estimated to have a salvage value of $9,680 after a useful life of 8 years. Compute 2020 depreciation expense using the sum-of-the-years'-digits method. Depreciation expenses LINK TO TEXT Compute 2020 depreciation expense using the sum-of-the-years-digits method, assuming the machinery was purchased on April 1, 2020. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expenses Click if you would like to Show Work for this...
On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $255,000. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $6,120,000 $6,120,000 Year-End Book Value $6,120,000 $6,120,000...
On July 1, 2020, Blue Spruce Company purchased for $3,060,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $127,500. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment Less: Accumulated Depreciation $3,060,000 $3,060,000 Year-End Book Value Depreciation...
On July 1, 2020, Martinez Company purchased for $4,680,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $195,000. Depreciation is taken for the portion of the year the asset is used Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum-of-the-years'-digits method 2. double-declining balance method 2020 2021 Sum-of-the-Years'-Digits Method Equipment $4,680,000 $4,680,000 Less: Accumulated Depreciation Year-End Book Value Depreciation Expense...
Testbank Problem 134
On July 1, 2020, Novak Company purchased for $5,040,000
snow-making equipment having an estimated useful life of 5 years
with an estimated salvage value of $210,000. Depreciation is taken
for the portion of the year the asset is used.
Complete the form below by determining the depreciation expense
and year-end book values for 2020 and 2021 using the
1.
sum-of-the-years'-digits method.
2.
double-declining balance method.
2020
2021
Sum-of-the-Years'-Digits Method
Equipment
$5,040,000
$5,040,000
Less: Accumulated Depreciation
$
$...
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